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Omnicom subsidiaries receive subpoenas from the Department of Justice

Omnicom Group Inc. said Friday two of its subsidiaries received subpoenas from the Department of Justice concerning an investigation into video production and post-production production practices in the advertising industry. The marketing company said its outside legal counsel has contacted the DoJ’s antitrust division, and was fully cooperating with the investigation. The stock, which was still inactive in premarket trade, has rallied 16% year to date, while the S&P 500 has gained 11%.

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Honeywell’s stock set for selloff after downbeat sales outlook

Shares of Honeywell International Inc. were indicated down nearly 9% in premarket trade Friday, after the diversified technology and manufacturing company provided a downbeat outlook for 2017. The company affirmed its fourth-quarter 2016 earnings-per-share outlook of $1.74, but that was below the FactSet consensus of $1.75. For 2017, Honeywell expects EPS of $6.85 to $7.10, compared with the FactSet consensus of $7.08. Revenue is expected to decline 1% to 2% from this year, while the current FactSet consensus of $39.92 billion implies 1% growth over the 2016 consensus of $39.51 billion. The stock has rallied 13% year to date through Thursday, while the S&P 500 has gained 11%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Evacuation efforts suspended in Aleppo: reports

Evacuations of civilians and opposition fighters out of eastern Aleppo have been suspended by the Syrian army, which claimed a ceasefire deal had been broken, news reports said Friday. The army said rebels opened fire at a crossing point in a rebel-held enclave, prompting the suspension, the Associated Press reported, citing Syrian state TV. It wasn’t immediately clear when the suspension would be lifted. Thousands of people were evacuated Thursday from the last rebel-held area in the city, Reuters reported.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Ecuador declares state of emergency after deadly mine clash: reports

Ecuador’s government declared a state of emergency in the wake of a deadly clash at a copper mine, news reports said Thursday. One policeman was killed and several security officers were wounded as protesters attacked a mine run by ExplorCobres, Reuters reported. Roughly 60 people, believed to be part of the Shuar group of indigenous people, attacked the Chinese-backed copper exploration project as they say it’s encroaching on their lands, according to the Associated Press. Troops were moving into the Amazonian region in response to the attack, reports said. Ecuador’s President Rafael Correa has been pushing for development in the country’s minerals industry.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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GSE Refinances Fall, Slowest HARP Month on Record

Just a month after surging to a three-year high, refinances of government-sponsored enterprise loans fell — with federally funded transactions falling to an all-time low.

There were 243,537 Federal National Mortgage Association and Federal Home Loan Mortgage Corp. residential loans that were refinanced in October of this year.

GSE refinance production moved lower from 250,534 in September, which had been the busiest month since August 2013 when there were 302,370 transactions.

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From:: Financing

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[Video] Here’s why one former senator is so passionate about affordable housing

The J. Ronald Terwilliger Foundation for Housing America’s Families Housing Forum brought together some of the most influential names in housing. But this wasn’t simply a group of government officials coming together to talk about the idea of affordable housing; many of them knew first-hand what it’s like to rely on affordable housing. Here’s former Massachusetts Sen. Scott Brown’s story. …read more

From:: Real Estate Wire

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Gilead shares slip as jury sides with Merck in patent lawsuit

Shares of Gilead Sciences Inc. slipped while Merck & Co. rose in the extended session Thursday after a jury awarded Merck billions in royalties over a hepatitis C drug dispute. In a patent lawsuit against Gilead, a federal jury in Delaware awarded Merck $2.54 billion in royalties over Gilead’s Sovaldi and Harvoni hepatitis C drugs, according to Reuters. Gilead shares fell 1.9% to $74.12, while Merck shares advanced 1.2% to $63.10 after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Exclusive: Nationstar CEO Jay Bray on Mr. Cooper, the company’s future

Given the company’s recent radio silence on its massive rebranding efforts, it may seem like Nationstar Mortgage’s transformation into Mr. Cooper is in a perpetual holding pattern. But when one visits Nationstar’s headquarters in the Dallas suburb of Coppell, it’s clear that Mr. Cooper is both the company’s future, and its present as well. In an exclusive interview, HousingWire sat down with Nationstar CEO Jay Bray to find out more about Mr. Cooper and what it means for Nationstar. …read more

From:: Real Estate Wire

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Agios Pharma shares dive after anemia treatment development halted

Agios Pharmaceuticals Inc. shares fell after the drug developer said it is no longer pursuing a second drug candidate to treat a rare form of anemia. Agios shares dropped 19% to $45.55 after hours. The company said it will no longer develop the AG-519 treatment for pyruvate kinase deficiency, an inherited condition where gene mutations from each parent cause an accelerated destruction of red blood cells, after the Food and Drug Administration put a clinical study of the drug on hold. Agios said the decision does not affect the development of another drug candidate, AG-348, for the condition.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News